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Huffy Terminates Long-Term Lease at Mississippi Facility

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DAYTON, OH/USA (24 August 2000) — US bike maker Huffy Corporation has finalized the termination of its long-term lease at the vacated Huffy Bicycle Company facility in Southaven, Mississippi. Calling the former production facility “redundant” under Huffy’s new business plan, Don R. Graber, Huffy chairman, added: “We are pleased that the owner has leased this […]

DAYTON, OH/USA (24 August 2000) — US bike maker Huffy Corporation has finalized the termination of its long-term lease at the vacated Huffy Bicycle Company facility in Southaven, Mississippi. Calling the former production facility “redundant” under Huffy’s new business plan, Don R. Graber, Huffy chairman, added: “We are pleased that the owner has leased this facility to a new tenant to support the Southaven area economy.” The termination of the Southaven lease eliminates Huffy’s long-term lease obligation of over US$3 million for this plant. Over the last few years, Huffy, which at one time made millions of department store bikes in the United States, has found it was unable to compete against low-priced imports, chiefly from China, and has stopped all domestic production of bicycles. Huffy had moved its manufacturing from heavily unionized Ohio to Mississippi, where labor costs were lower, in an effort to remain competitive, but shut that plant down this year. (WJ)

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